Brent oil price declined strongly yesterday to succeed achieving our waited target at 77.05$, noticing that the price found solid support there to show some slight bullish bias now, waiting to get negative motive that push the price to confirm breaking this level and open the way to visit 61.8% Fibonacci correction level at 75.66$.
On the other hand, we should note that the consolidation of 77.05$ level against the negative attempts will lead the price to build intraday bullish wave that targets testing 78.40$ areas before determining the next trend clearly.
The expected trading range for today is between 75.60$ support and 78.60$ resistance.
Trend forecast: Bearish
Origin: Economies
